Numico Acquires Leading Baby Food Business in Australia
The transaction provides Numico with a strong combined number 2 market position in the Australian weaning food category, complementing the company's existing number 2 market position in Infant Milk Formula.
20/06/06 Royal Numico N.V. announces that it has signed and completed the acquisition of Golden Circle's baby food business for a total consideration of AUD 22 mln ( Euro 13.3 mln) in cash.
The transaction provides Numico with a strong combined number 2 market position in the Australian weaning food category, complementing the company's existing number 2 market position in Infant Milk Formula.
The Golden Circle baby food brand is one of the leading brand names in the weaning food category in Australia and New Zealand, representing approx. € 9 mln in sales. The acquisition further strengthens Numico's presence in the Asia Pacific region and fits the company's high-growth, high-margin specialised nutrition strategy. As part of the transaction parties have signed an agreement under which Golden Circle will supply the baby food products to Numico.
Golden Circle - a leading fruit, vegetable and juice processor in Australia - is an unlisted public company owned by 700 Australian farmers, generating AUD 400 mln in sales in 2005.
